More Finance and Banking Articles

  • Regulators finalize leverage ratio for big banks, would require $68 billion of extra capital today

    The amount of cash banks are required to hold in case of an emergency is increasing, thanks to a rule that U.S. regulatory agencies finalized Tuesday. The Federal Reserve and other agencies voted to increase the supplementary leverage ratio for the eight largest U.S. banks, requiring that they...

  • Vatican bank gets pope's blessing to keep going

    VATICAN CITY (AP) — Pope Francis gave his backing Monday to the scandal-tainted Vatican Bank to carry on provided it presses ahead with efforts to bring its banking practices up to international standards. To continue operating, the bank, which has been caught up in money-laundering probes...

  • The week ahead in economics: finance, regulation and hiring

    Finance and financial regulation will be main features this week in Washington. On Tuesday, officials at some of the biggest regulatory agencies, including the Federal Reserve and the Consumer Financial Protection Bureau, will testify before the House Financial Services Committee. The hearing,...

  • Manhattan Moment: Graduate borrowing is the real student debt problem

    It's no secret that student loan debt is reaching crisis levels in America, but the conventional narrative on student loans neglects a crucial aspect: the rapid growth of graduate student borrowing. A recent report by the New America Foundation argues that the real student debt problem occurs...

  • Federal Reserve governor Jeremy Stein, top bubble-watcher, resigns

    The Federal Reserve is losing its top bubble-watcher. Jeremy Stein, an Obama appointee who has served on the Fed's Board of Governors since 2012, submitted his resignation Thursday, effective late May. Stein, an academic economist before joining the Obama administration and then the central...

  • CFPB whistleblower testifies about widespread discrimination at consumer agency

    Rare bipartisanship blossomed at a House Financial Services subcommittee hearing surrounding allegations that a pattern of racial and gender discrimination exists at the federal Consumer Financial Protection Bureau. A CFPB investigator charged that the bureau is a “toxic” workplace for its...

  • International Monetary Fund: Big U.S. banks receive $15 billion to $70 billion in 'too big to fail' subsidies

    In an update to its global financial stability report for April, the IMF indicated that U.S. banks, as of 2013, are able to obtain funding more cheaply because investors believe that in the event of failure, the government will offer the banks support.

  • Suspected fraud plot foiled at Vatican bank

    ROME (AP) — Two men toting a briefcase stuffed with false bond certificates purportedly worth trillions of euros (dollars) tried to bluff their way into the exclusive Vatican bank in a foiled fraud plot, Italian police said Sunday. Financial Guard police Lt. Col. Davide Cardia said the...

  • Shadow banking remains out of regulators' grasp

    Regulators implementing the Dodd-Frank financial reform law and trying to ensure that big banks don't fall into another crisis know that may be looking in all the wrong places. Instead of the big banks that are normally the focus of regulations meant to protect taxpayers and the broader...

  • Vatican bank's ousted president comes out swinging

    VATICAN CITY (AP) — The ousted president of the Vatican bank came out swinging Friday after he was cleared in a money-laundering investigation, accusing the bank's board of causing "grave damage" to the Holy See by firing him in 2012. Ettore Gotti Tedeschi ended a nearly two-year silence with...

  • Moody's reviewing Russia bond rating for downgrade

    Moody's Investors Services is considering whether to downgrade Russia's government bond rating, citing a weaker economy and greater risk amid the uncertainty caused by the conflict with Ukraine. The ratings agency said Friday it placed Russia's "Baa1" government bond rating under review for a...

  • Ally files for IPO that could raise more than $3B

    MINNEAPOLIS (AP) — The federal government is getting ready to sell more than half of its remaining stock in Ally Financial in a public offering that might raise enough money to pay back the rest of its taxpayer bailout. The sale could raise as much as $3.06 billion. That plus the $15.3...

  • Patterson retiring as BancorpSouth chairman

    TUPELO, Miss. (AP) — Aubrey Patterson, BancorpSouth's chairman since 1991 and whose career with the bank goes back four decades, will retire at the shareholders meeting on April 23. The announcement came Wednesday. Patterson joined the then-Bank of Mississippi in 1972. Under Patterson's...

  • BofA to spend $9.33 billion in FHFA settlement

    Bank of America will spend $9.33 billion to resolve a dispute over mortgage securities with the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac. The agency sued 18 financial institutions in 2011 over their sales of mortgage securities to Fannie and...

  • Fed blocks Citigroup from raising dividends

    WASHINGTON (AP) — The Federal Reserve on Wednesday barred Citigroup from raising its dividend or boosting its stock buybacks, saying it's too hard to predict how some parts of the bank's global operation would fare in a sharp economic downturn. It was a setback for Citigroup Inc., one of the...



From the Weekly Standard

  • Why the New York Times Poll Is Bogus

    The Arkansas Senate race has been close in virtually every serious poll. The Republican challenger, Tom Cotton, probably had a small lead a month or so ago; after a massive negative assault on him...

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  • Hustle Is Overrated

    The Bryce Harper-Mike Trout showdown is underway and the outcome is, well, inconclusive. In round one Monday night, the Nationals leftfielder walked and went hitless in three at bats while the...

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  • Kennedy’s Question

    We often think of the Constitution as a two-part document: first the original 1787 text, which primarily establishes the government’s structure; and then the amendments, which primarily set...

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